Psyched: MindMed And Compass Q1 Earnings, FDA Approves Therapists Taking MDMA, Wesana Health Goes Public
Compass Pathways (NASDAQ:CMPS) and
MindMed (NASDAQ:MNMD) remain the only two companies in psychedelics to reach a major U.S. stock exchange. Both companies presented net losses associated with R&D expenses, as entities in the space race towards gaining ground in a sector that still hasn’t reached early maturity or profitability.
Both companies presented strong cash positions to advance their research pipelines.
Compass, Pressing On Psilocybin: Compass highlighted the issuing of two new patents and a post-quarter equity financing round of $144 million.
Silo Wellness benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.
Psychedelics company Silo Wellness Inc. (CSE:SILO) (FRA: 3K70) will expand its portfolio of psilocybin and ketamine product and retreat offerings to include 5-MeO-DMT, Benzinga has learned exclusively ahead of an official announcement.
The addition of O-methyl-bufotenin to the company’s offering will be enabled through a partnership with
Kaivalya Kollectiv, a Los Angeles-based wellness company that conducts psychedelic-integrated spiritual coaching and facilitated retreats in Mexico, Jamaica and Costa Rica. Through the agreement, Silo Wellness will integrate the 5-MeO-DMT experience into two new Jamaican retreats featuring yoga, meditation, breath work and spiritual coaching, as well as unique culinary and cultural experiences.
Retailer
Planet 13 Holdings Inc. (CSE:PLTH) (OTCQB:PLNHF) reported single-day record sales of $543,000 on April 20. Meanwhile,
Eaze, California s largest marketplace for legal cannabis delivery, announced a 185% surge in deliveries (compared to any other Tuesday in 2021), with an average basket of $200, up 50% from the same day in 2020.
“Cannabis consumers moved to delivery as their preferred way of shopping last year, so we re not surprised to see such a strong 420 in 2021,” said Ro Choy, CEO of Eaze. “Even as daily life begins to return to normal, consumers are staying with the convenience of delivery. It s the future of this industry.”
Debra Borchardt, CEO of Green Market Report, added, “The April 20 holiday is becoming the largest sales day of the year for the industry. Headset reported logging $60,000 in sales per minute, while Planet 13 said it did over half a million sales on Tuesday. Even Ayr Wellness clocked in an amazing $1.2 million day across its stores.